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Indian equity benchmarks Nifty50 and Sensex managed to close in green for two consecutive trading sessions on the back of rally led by banking stocks, ignoring weak global cues.
The market took positive cues from the banking sector after the Reserve Bank of India (RBI) allowed banks to spread out the bond losses over the next four quarters.
After a gap down opening, markets remained mildly volatile for most of the day; however, last hour buying helped the Nifty to close with gains above its 20-EMA (10,240 marks); forming a bullish Candle pattern on the daily scale.
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